Peer to peer recognition has always been (and always will be) an important aspect of any professional workplace. Social acknowledgment is a basic need listed in Maslow’s hierarchy of needs. Employee retention is all about making them fall in love with your company’s culture, you need to make him feel like he’s truly wanted. It is a crucial part of employee recognition.
Well, peer to peer recognition programs aims to provide exactly that type of feelings to employees: acknowledgment, satisfaction, self-worth, achievement, appreciation, etc.
A truly nice definition conveying the importance of peer to peer employee recognition sounds like this:
“Peer-to-peer recognition is the genuine sign of acknowledgment and appreciation between coworkers. That presumes both the manager-to-employee and employee-to-employee interactions.”
Manoj Agarwal, founder of Xoxoday.
A traditional peer-to-peer recognition program is usually developed and performed by the upper class – the managers, the high roles, and the assigned employees. However, peer-to-peer recognition can become something more than that.
It can become a habit of each employee – when something “nice” is done, the employee should acknowledge or reward the person who obtained the result. Certain “rewards” can be implemented and known as “default prizes” – when something is achieved, every member receives an X or Y prize.
Peer to peer recognition is an extremely powerful technique that will positively influence your company and its employees.
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In today’s post, we’ll explore the primary reason why developing and performing a peer to peer recognition strategy is one of the most palpable ways to improve your company’s performance and your employees’ wellbeing.
We shall also explore several practical ways to implement the peer-to-peer recognition mindset in your company’s collective mindset. Pay attention, take some notes, and make sure you take some real action!
Peer Recognition Defines Your Company’s Culture
Peer to peer recognition programs start as an initiative, and they become the true representation of the brand and company itself.
51% of employees are not engaged and haven't been for quite some time.
It gives employees the necessary tools to be able to praise others, provide feedback, and reward great accomplishments. As you can probably imagine, this approach will quickly generate a great atmosphere in the office.
It’ll make your employees’ time pleasant, joyful, and interactive, so they’ll be able to “turn work into play” and perform out of passion rather than out of need.
It Builds Team Spirit
Team spirit is something that every professional corporate business craves for. In sports, team spirit makes the entire difference between winning and losing. When two “balanced” teams play against each other, the one that’s more united will always win.
It’s the social and mental dynamics that influence the players’ individual choices and reasons to pass, shoot, or dribble during critical times.
Well, associate that with your company’s culture and you’ll find that it works exactly the same. If your employees perceive themselves to be a united team that leverages team spirit to gain energy and reach extraordinary results, well, you’ll have a winning team and a truly successful company!
Makes Work Less Individual and More Collaborative
Teamwork is good as long as it’s effective. If it’s imposed and feels like an effort, it’ll always backlash and generate negative results or stagnation.
A peer recognition culture fosters genuine feelings of companionship and collaboration. While some employees might feel the need to act independently and make their own decisions, there will be many others who will definitely appreciate a more collaborative approach that involves group choices and teamwork.
40% of working Americans are ready to double their efforts if they are recognized more often.
Harvard Business Review
Those that love to work alone should be able to do so, for as long as they are truly helpful in their positions. Nevertheless, certain key recognition principles and “rules” should apply to all employees regardless of their status.
Improves Employees’ Happiness and Fulfillment
Have you ever wondered about how happy your workers are? Have you ever cared? It’s good to have these thoughts – it gives you a human side and your employees will love that.
Anyhow – implementing a peer to peer program will definitely impact your employees’ wellbeing and happiness.
Appreciation, positivity, laughter, compassion, friendship – these are high vibration emotional states that spread. They spread through energy, so if 10 of your employees are positive and helpful to each other, the other 10 will naturally feel inclined to feel and behave the same way.
It Improves Employees’ Health
If happiness is present, the stress and the negativity are almost practically gone. Numerous studies prove that stress and negativity affect our physical and mental wellbeing. If those are diminished or completely eliminated, you’ll find it easy to understand why your employees will feel “alive”.
Every employee values his health and wellbeing. If your company’s culture fosters such amazingly positive effects, they’ll want to stick to your “club” mainly because it keeps them healthy and happy.
It Boosts Employees’ Standards and Objective Scales
When a feedback mechanism is linked with a rewarding system, employees start to think about their possibilities. The successful events (some employee claiming a great prize) makes them feel like they can do it too. It opens possibilities, doors, and paths.
A study by Gallup shows that on doubling the number of employees that recieve recognition,
- 24% improvement in quality
- 27% reduction in absenteeism
- 10% reduction in shrinkage
A successful peer to peer practice will often skyrocket every employee’s professional standards. However, this competition should be directed towards direct business competitors, and not towards colleagues.
Give your employees a competitive medium that constantly triggers their intrinsic motivation and inspiration and you’ll have a proactive company that gets a lot of work done.
It Encourages Transparency and Openness
Transparency is a rare quality. Leaders are striving to find it in employees, while every employee seeks to find it in their leaders and managers. Without transparency, trust is a faraway concept.
Without trust, a team cannot function properly. There can be no prosperity (at any level – both individual and company) unless the trust is a default component in the company’s culture.
A peer recognition program brings exactly that – it helps employees learn more about other employees or managers, and at the same time, it gives you, the leader of the movement, a great understanding of your team’s dynamics and direction.
A Peer Recognition Culture Builds Loyal Teams
Loyalty is even rarer. Loyal employees will never betray your company if they find a better offer. They’ll let you know first, they’ll make sure that you agree, and if you do, they’ll do their best to train somebody else to fill the position.
Of course, this type of loyalty is rare – as I said – but not impossible to create. An effective peer to peer culture will generate feelings of loyalty by default, so this represents another huge benefit of peer recognition.
Peer to Peer Programs Make Rewards and Recognition a Natural Process
Rewarding someone might often feel like an awkward deed, mainly because you might not be used to do so, or because other people might take it personally because it wasn’t them who received the prize.
50% of employees prefer receiving immediate feedback for a job done rather than wait till the end of the year.
An organized peer to peer program will make the rewarding system feel natural and pleasant. You, as the manager, will have a justified reason to reward each employee for each of his important accomplishments.
At the same time, on a lower level, your employees might (and should) be able to reward each other. Some form of currency or some form of appreciation should be easily approached and used by every member who wants to take part in the peer recognition program.
It Fosters True Friendships
Peer recognition does not only improve the employees’ performance and dynamics of your workplace, but it positively alters the connection between your employees.
By constantly talking to each other, your colleagues will learn to cooperate and will often find a lot of common things that they have in common. Many professional relationships may also turn into real personal friendships.
90% of employees feel the bond of trust strengthens when they receive a word of thanks.
Imagine your workers meeting every Saturday night for a few beers, or every Sunday morning to drink a coffee together. Holidays and trips can also happen, and they will often genuinely improve the company’s collective strength and compassion.
It Encourages Learning and Skills Growth
Employees that are part of a peer employee recognition program will never be afraid to ask for help. The true friendships built as an effect of the friendly corporate culture will allow employees to gain knowledge and skills from each other.
If your marketers learn from your designers and vice versa, each particular sector will do a better job in the future. That fosters both individual and company progress and helps your company thrive in the face of challenges.
Every professional would love to work in a place where growth, teamwork, employee feedback, and rewards are present. Provide that and your company’s job positions will be seen as a goldmine to most relevant new candidates that you seek.
Peer Recognition Represents a Powerful Feedback Mechanism
Your employees will need a reliable feedback mechanism that they can use to improve. Finding your mistakes and resolving their causes (the roots) is not as simple as you may very well know.
45% of employees value feedback from their peers, but less than 30% get it in reality.
An effective peer-to-peer social recognition program will allow employees to manifest constructive criticism without worrying about their colleagues taking it personally. And so will you!
Are you convinced yet? If you’re not – you’re probably not looking at the right strategy at the right time. Maybe it’s not the moment.
However, if any of these reasons have made you question the way you do things in your company, and whether your employees feel like they’re an important piece of the puzzle or a separate, disconnected and lonely piece, you should immediately research and craft a peer to peer employee recognition strategy and take some immediate steps to put it in motion.